By Marisa Wong
Morgantown, W.Va., June 2 – HSBC USA Inc. priced $2.13 million of 6.5% autocallable yield notes due Nov. 30, 2017 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless either index closes below its trigger level, 75% of its initial level, on any day during the life of the notes and the return of the worse performing index is negative, in which case investors will be fully exposed to any losses of the worse performing index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,125,000
|
| Maturity: | Nov. 30, 2017
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| Coupon: | 6.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index ever dips below trigger level and either index finishes below initial level, in which case full exposure to losses of worse performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | 2,090.54 for S&P and 1,141.024 for Russell
|
| Trigger levels: | 75% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.35%
|
| Cusip: | 40433ULS3
|
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